ExxonMobil released a model framework for industry-wide methane regulations and urged stakeholders, policymakers and governments to develop comprehensive, enhanced rules to reduce emissions in all phases of production.
The model framework is based on its voluntary methane reduction program, which involves prioritized replacement of components with a high-leak potential at production sites, technology enhancements to infrastructure and substantial data gathering and research. The proposed regulations would apply to new and existing sources. The company has reduced methane emissions from its U.S. unconventional operations by 20% since 2016 and remains on track to reach its target of 15% reductions across the company.
To achieve meaningful reductions in methane emissions, regulations should address and include four primary requirements:
- Leak detection and repair programs across oil and gas infrastructure
- Minimization of venting
- Operational equipment controls
- Record keeping and reporting to support agency enforcement
ExxonMobil has advocated in the United States for a cost-effective, federal regulatory standard to manage methane emissions from both new and existing oil and natural gas facilities. The company will continue to work constructively with state and federal regulators, industry and nongovernmental organizations to develop and implement cost-effective and reasonable methane-emission regulations.
Press Release Courtesy of ExxonMobil.